A major Wall Street bank just shook up its crypto equity coverage. Following recent pushback from MSCI, the financial giant rolled out fresh ratings across multiple digital asset-related stocks.

The move comes amid growing tension between traditional finance institutions and index providers over how to classify and weight crypto-exposed equities. Several mining firms and blockchain infrastructure companies saw their ratings adjusted in the latest update.

This isn't just about numbers on a spreadsheet. When institutional players revise their stance on crypto stocks, it signals shifting sentiment about the sector's trajectory. The timing raises eyebrows too—coming right after MSCI's controversial decisions that rattled some market participants.

What's interesting here? The bank didn't pull back entirely. Instead, they recalibrated—suggesting a more nuanced view rather than wholesale retreat. Some names got upgraded, others downgraded, painting a mixed picture of where smart money sees opportunity versus risk in the current cycle.

For anyone tracking institutional adoption signals, this kind of recalibration matters. It reflects real-time adjustments as legacy finance continues wrestling with how to position around digital assets.